475,000 Reasons To Think Of Before Moving To A Condo

If there was any error in our decision coming here it’s the incredible cost of parking that we totally overlooked. Consider this:

  1. At carpark monthly rate: P3,500/mo. Daily rate is something like P160. We are paying as of this moment 3 days worth, pending results of looking for a better deal. There is an hourly but no weekly rate.
  2. If you buy a parking spot at a parking building (currently under construction): P475,000.00
  3. Alternative: Wait for someone to rent theirs out, but at the risk of having it withdrawn any time (it’s a seller’s market), and there’s already a long line.
  4. Alternative 2: Look for parking at nearby compound and at the shops across the street. So far this makes the most sense.

Those figures are enough to make you think twice about moving at all. The janitor around here, a really nice guy btw, can make a killing if he decides to broker parking spaces, being in the know about these things. Dunno if he already is actually.

I had been thinking about why they cost it so high. It might be because the developers don’t want people to make parking areas a cottage industry, in the sense that owners would start selling their rights and it’d get passed on to different owners and onwards. At that price, the only way it would make sense is if a condo owner uses it for their own purpose. If it cost lower, for example, P150k, businessmen would start lining up to buy them and rent them out monthly (at least that’s what I would do).

TheĀ  downside of course is obvious. If you think for example, that P1m is a fair price for your condo (just an example btw, not the price of ours), that ‘fair price’ is suddenly not fair any more if you consider the P475k extra you need to bleed out your wallet for parking.

P475k is a large amount of money whether you’re buying a P1m condo or a P10m condo. In some areas at Cavite that’s already a house! We NEED a parking space though. It is not an option to NOT have one.

And so clearly option 4 needs to be investigated. And guess what? This morning I found one:

Actually, two. Above costs P1k/month, which is absolutely terrific, and with a roof too. Closer still, I found another, at P1.5k/month.

Hold your horses however, there are caveats. Above is a good 12 minute walk away, and I’m not too happy with security measures. ‘Del’ is actually a lady taking care of a carinderia at the back where a PLDT contractor parks their vans and where the drivers eat. The area isn’t cemented, and I’m not too sure if it doesn’t flood. A storm is coming soon and I don’t want the stress of wondering if the car is floating in a river somewhere when an Ondoy level situation comes.

Option 2 at P1.5k/month, is far more palatable and even closer at approximately 8 minutes away at an adjoining compound. There’s no roof but that’s ok. It will only be available 2-3 weeks from now because they’re using the space for construction stuff at a house being made nearby. A car cover is necessary to keep prying eyes out for either option, and to make the car as un-interesting as possible to potential evil doers.

So the solution is clear: Park at Aling Del’s for 2-3 weeks then move to option 2 as soon as it is available.

The plan of action is not to tell Aling Del I’ll only be staying 2-3 weeks, and pay her a full 2 weeks in advance to keep her happy. I will also pay 1 week in advance to the 2nd option to guarantee that space goes to me.

So that’s it as far as the parking issues are going. Dunno if this story will have a happy ending yet, but at the moment these are the options. Stay tuned.

2 thoughts on “475,000 Reasons To Think Of Before Moving To A Condo

  1. Ganyan talaga Cuz there are alot of hidden costs when buying and living in a condo. Yes parking space is exorbitant. Buti na lang doon sa amin, there is an open parking space at the back of the condo which we rent monthly for the two cars which doesn’t come cheap pero what to do? At least there is a security guard that ‘sorta’ secures the place kuno! :D

  2. wow that’s great for you ‘net! I’m convinced I can do better. It’s just a matter of putting in the ‘research’ ie, asking around. :)

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